Sales reach 1.24 trillion won, up 11.1% on year; high-inch tire share hits annual target
Kumho Tire reported consolidated sales of 1.24 trillion won ($926 million) and operating profit of 130.5 billion won for the third quarter of this year, the company said Thursday.
Both figures improved from the same period a year earlier, with sales up 11.1% and operating profit up 20.3%. The operating profit margin stood at 10.5%.
Kumho Tire said the results were driven by stronger sales in North America and Europe, along with increased demand for high-value products such as large-diameter and electric vehicle tires. Quarterly sales exceeded 1 trillion won for the 12th consecutive quarter since the fourth quarter of 2023, supported by growing original equipment tire supply — particularly in North America and Europe — and steady gains in high-margin replacement tire sales.
On a cumulative basis, tires of 18 inches or larger accounted for 47.0% of total sales by volume, while EV tires made up 24.6% of global original equipment sales. Kumho Tire's full-year guidance targets annual sales of 5.1 trillion won, a large-diameter tire share of 47% and an EV tire supply share of 30%. Of these, the large-diameter target was reached within three quarters. The company said the remaining targets are also on track.
Kumho Tire said it has continued to expand global sales and grow its high-margin product mix even as cost pressures persist from US tariff policy and conflicts in the Middle East. Looking ahead, the company plans to build factories in Hampyeong and Europe to establish a global production network spanning Korea, Europe and North America, with a focus on expanding market share and improving profitability.
eyre@heraldcorp.com
